Lupin Q4 surges to Rs 408 cr

Net sales of the company rose to Rs 2,537 cr for the January-March quarter, compared to Rs 1,883 cr in the same period of previous fiscal

Drug major Lupin Ltd on Wednesday posted a nearly three-fold increase in its consolidated net profit at Rs 408.1 crore for the fourth quarter ended March 31. The Mumbai-based firm had posted a net profit of Rs 156 crore in the same period of the previous financial year.

Net sales of the company rose to Rs 2,537 crore for the January-March quarter, compared to Rs 1,883 crore in the same period last year, Lupin Ltd said in a statement.

For the year ended March 31, the company posted a net profit of Rs 1,314 crore, compared to Rs 868 crore in the 2011-12 financial year. Net sales rose to Rs 9,462 crore for the year ended March 31, 2013, compared to Rs 6,960 crore in the 2011-12 financial year.

The company's board approved the appointment of Kamal K Sharma as Vice Chairman, Vinita Gupta as Chief Executive Officer, and Nilesh Gupta as the Managing Director with effect from September 1, 2013.

The company's board also recommended dividend of 200%--Rs 4 per equity shares of the face value of Rs 2 each for the year ended March 31, 2013.

Shares of lupin were trading at Rs 732.20 on the BSE in late afternoon trade, up 2.64% from its previous close.